The State of the Nation's Housing in 2017

A decade after the onset of the Great Recession, the national housing market has, by many measures, returned to normal, according to the 2017 State of the Nation’s Housing report, which was released by the Joint Center earlier this year. In this brownbag lunch, which is the first in the Joint Center’s fall Housing Research Seminar Series, Daniel McCue, a senior research associate at the Center who oversaw the report’s production, will discuss some of the report’s key findings. Most notably, the report found that housing demand, home prices, and construction volumes are all on the rise while the number of distressed homeowners has fallen sharply. However, along with strengthening demand, extremely tight supplies of both for-sale and for-rent homes are pushing up housing costs and adding to ongoing concerns about affordability, particularly for the nearly 19 million US households that paid more than half of their incomes for housing.

This talk is part of the Center’s ongoing Housing Research Seminar Series, which gives faculty, senior researchers, and graduate students the opportunity to present and discuss current and recent work with a mix of scholars and practitioners.

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A decade of unprecedented growth in the rental housing market may be coming to an end. Fewer new renter households are being formed, rental vacancy rates have risen, and rent increases have slowed. At the same time, renter demographics are changing and nearly 21 million households continue to pay more than 30 percent of their income for rent.